Modular Medical shares rise 11.15% premarket after announcing $4.68M public offering to fund operations.

Modular Medical (MODD) surged 11.15% in premarket trading following the announcement of a $4.68 million public offering priced at $0.77 per unit (comprising two shares and one warrant). The offering includes 12.17 million shares and warrants exercisable at $0.45 per share, with proceeds earmarked for operations, working capital, and capital expenditures. The company also granted the underwriter a 30-day option to purchase up to 15% additional securities. This financing, executed under an SEC-effective shelf registration, signals strategic capital-raising to advance its insulin delivery technology development and commercialization. The premarket rally reflects investor optimism over the structured capital raise, which provides liquidity to support the company’s growth initiatives and operational scalability.